MIRA INFORM REPORT

Report No. :	347277
Report Date :	02.11.2015

IDENTIFICATION DETAILS

Name :	OOO ”KUPISHUZ”
Registered Office :	Shosse Varshavskoe D 9, Str 1 117105 R Moskva
Country :	Russia
Financials (as on) :	31.12.2014
Date of Incorporation :	09.12.20110
Com. Reg. No.:	5107746007628
Legal Form :	Limited liability companies
Line of Business :	Retail sale via mail order houses · Agents involved in the sale of textiles · Wholesale of clothing and footwear · Retail sale of cosmetic and toilet articles · Retail sale of footwear and leather goods · Retail sale of furniture · Retail sale of furniture · Retail sale of electrical household appliances and radio and television goods · Other retail sale in specialized stores · Storage and warehousing · Activities of other transport agencies · Other computer related activities · Market research and public opinion polling · Advertising Other business activities not elsewhere classified
No. of Employees :	1225 (2013)

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Russia	B1	B1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

RUSSIA - ECONOMIC OVERVIEW

Russia has undergone significant changes since the collapse of the Soviet Union, moving from a globally-isolated, centrally-planned economy towards a more market-based and globally-integrated economy, but stalling as a partially reformed, statist economy with a high concentration of wealth in officials' hands. Economic reforms in the 1990s privatized most industry, with notable exceptions in the energy and defense-related sectors. The protection of property rights is still weak and the private sector remains subject to heavy state interference. Russia is one of the world's leading producers of oil and natural gas, and is also a top exporter of metals such as steel and primary aluminum. Russia's manufacturing sector is generally uncompetitive on world markets and is geared toward domestic consumption. Russia's reliance on commodity exports makes it vulnerable to boom and bust cycles that follow the volatile swings in global prices. The economy, which had averaged 7% growth during 1998-2008 as oil prices rose rapidly, was one of the hardest hit by the 2008-09 global economic crisis as oil prices plummeted and the foreign credits that Russian banks and firms relied on dried up. In 2014, economic growth declined further when Russia forcibly violated Ukraine’s sovereignty and territorial integrity, and interfered in Ukraine’s internal affairs. In the second half of 2014, the Russian ruble lost about half of its value, contributing to increased capital outflows that reached $151.5 billion for the year; the ruble remains volatile. Declining oil prices, lack of economic reforms, and the imposition of foreign sanctions have contributed to the downturn and created wide expectations the economy will continue to slump. In April 2015, the Russian Ministry of Economic Development predicted that the Russia’s economy will contract by 3% in 2015, and average only 2.5% growth through 2030.

Source : CIA

Company identification

OOO ”Kupishuz”		Tel	74953636393
shosse Varshavskoe d 9, str 1		E-Mail	info@lamoda.ru
117105 g Moskva		Web	www.lamoda.ru
Russia
Crefo Nr.	9495455435	Registration:	Mezhrayonnaya inspektsiya Feder-
			alnoy nalogovoy sluzhby 46 po g.
			Moskve
Statistical Nr.	69597891	Registration Nr.	5107746007628
Tax Nr.	7705935687	Status	active

Economic situation

Business connection	Business connection appears permissable.	(31)
Terms of payment	As far as know, punctually.	(29)

Basic information

Legal form

Limited liability companies (OOO)

Founded

09/12/2010 as Limited liability companies (OOO)

Registration

09/12/2010, Mezhrayonnaya inspektsiya Federalnoy nalogovoy sluzhby 46 po g. Moskve, 5107746007628 Statistical Nr.: 69597891

Tax Nr.: 7705935687

Registered names

Valid from	Name in foreign language	Valid until
	Limited Liability Company Kupishoes
Valid from	Full name	Valid until
	Obshchestvo s ogranichennoy otvetstvennostyu ”Kupishuz”
Valid from	Short name	Valid until
	OOO ”Kupishuz”
Valid from	Commercial name	Valid until
	”Lamoda”

Owners and Capital

Crefo Nr.	Name / Address / Status	From	Share
Owner
9497336335	LAMODA GMBKH		100 %
9497336335	Yokhannisshtrasse 20, 10117 g. Berlin Germany

Registered capital

Date	Currency	Value
31/12/2010	RUB	10 000

Management

Crefo Nr.	Name / Address / Status	Since	Power of attorney
Employees
9496865692	Director of accounting Ekaterina Topchayan

Sole Executive Body

9511437797
9496865692	Managing director Burkkhard Endryu Binder Tax Nr.: 772983401003

Company addresses

Valid from	Residence address	Valid until
	shosse Varshavskoe d 9, str 1, 117105 g Moskva, Russia
	Tel: 74953636393
	E-Mail: info@lamoda.ru
	Web: www.lamoda.ru
Valid from	Address of the company premises	Valid until
	Rizhskiy Prospekt d. 4-6,liter A, 198103 g. Sankt-Peterburg, Russia ul. Furmanova d. 2, 050016 g. Almaty, Kazakhstan

Subsidiaries

Crefo Nr.	Name / Address / Status	Valid from	Share
Owner
9497518539	Filial OOO ”Kupishuz” v gorode	14/02/2014	0 %
	Sankt-Peterburge
	Statistical Nr.: 34368906
	PROSP RIZHSKIY 4-6 LITER A, 190103 G
	SANKT-PETERBURG Russia
9497635907	OOO ”IKOM SOLYUSHN”	19/06/2014	100 %
	Statistical Nr.: 17503314
	shosse Varshavskoe d 9, str 1B, 117105 g Moskva
	Russia
9497741309	OOO ”MODA S DOSTAVKOY”	30/09/2014	100 %
	Statistical Nr.: 35913205
	ul Letnikovskaya d 10, str 5, 115114 g Moskva
	Russia

Business activities

Main activity	Nace
Retail sale via mail order houses	52.61.2
Additional activities	Nace
Agents involved in the sale of textiles	51.16.2
Wholesale of clothing and footwear	51.42.4
Retail sale of cosmetic and toilet articles	52.33
Retail sale of footwear and leather goods	52.43.1
Retail sale of furniture	52.44.4
Retail sale of furniture	52.44.6
Retail sale of electrical household appliances and radio and television goods	52.45.1
Other retail sale in specialized stores	52.48.22
Storage and warehousing	63.12
Activities of other transport agencies	63.40
Other computer related activities	72.60
Market research and public opinion polling	74.13.1
Advertising	74.40
Other business activities not elsewhere classified	74.84

Economic data

Turnover and Employees

Date	Turnover		Employees
31/12/2011	341 805 000	RUB
31/12/2012	2 061 177 000	RUB
31/12/2013	5 278 689 000	RUB	1225
31/12/2014	9 765 976 000	RUB

Properties

Name	Detail	Currency	Value
office premise	Rented property of the association		Unknown
	Varshavskoe shosse d. 9, str. 1, g. Moskva
	117105, Russia

Supplementary data

Remarks

OOO ”Kupishuz” is the internet-store, involved in the sale of

clothes, shoes and accessories of the following brands: Adida, Puma,

Nike, Levi’s, Sela, Savage, Tommy Hilfiger, Baon. The company is operating under the brand “Lamoda”.

During the phone call the representative informed, that the business premise is rented by the subject.

According to the research, the affiliation through the director of

OOO “Kupishuz”, Burkkhard Endryu Binder, with other legal persons has not been revealed.

The subject did not participate in court cases.

According to the information, disclosed by the Federal Tax Service, OOO “Kupishuz” does not have tax arrears, the company is not going to be excluded from the state register as non-active.

According to the information, disclosed by the Pension Fund of Russian Federation, OOO “Kupishuz” does not have delays in social payments.

According to the information, disclosed by the Federal Labor Service, OOO “Kupishuz” does not plan to attract foreign employees. According to the research, OOO “Kupishuz” does not meet the most frequently encountered in practice characteristics of unreliable

companies (so-called “shell” companies), developed by the Federal Tax Service of Russian Federation.

OOO “Kupishuz” is not in the list of default debtors, the Register of unfair suppliers, the blacklist of Russian companies.

The management of the company is not in the list of default debtors, the register of disqualified persons, the blacklist of Russian

Private Persons.

Banks

Code	Bank name / Address	Account Nr.
	RAYFFAYZENBANK
	UL.TROITSKAYA,17/1 , MOSKVA 044525700,	40702810200001432667

Main indices

Business development

Company development	Constant company development.	(29)
Business course	Good order situation.	(21)

Events

Date	Kind	Code
04/03/2015	Pledge collection Debt capital : 8313330 RUB Debt total: 8313330 RUB Debt collection result: claim accepted / taken it to the production A40-37284/2015	(21)

Balances

Balance

31.12.2014 The enclosed balance of 2014 is originated from official source, no data available about authentication.

31.12.2013 The enclosed balance of 2013 is originated from official source, no data available about authentication.

31.12.2012 The enclosed balance of 2012 is originated from official source, no data available about authentication.

31.12.2011 The enclosed balance of 2011 is originated from official source, no data available about authentication.

		31/12/2014	31/12/2013	31/12/2012	31/12/2011
Name	Ref.	1000	1000	1000	1000
		RUB	RUB	RUB	RUB
		balance	balance	balance	balance
1. ASSETS
I. FIXED ASSETS
Intangible assets	1110	75 621	34 979	5 307	1 009
The results of research and development	1120	0	0	0	0
Intangible research assets	1130	0	0	0	0
Tangible research assets	1140	0	0	0	0
Fixed assets	1150	675 177	237 463	66 181	15 355
Profitable investments in tangible assets	1160	0	0	0	0
Financial investments	1170	91 820	0	0	0
Deferred tax assets	1180	1 114 868	687 214	353 350	105 858
Other non-current assets	1190	321 317	105 314	74 519	62
TOTAL IN SECTION I.	1100	2 278 802	1 064 970	499 357	122 284
II. CURRENT ASSETS
Inventories	1210	1 805 881	1 080 688	494 390	186 166
VAT on acquired assets	1220	724 403	421 217	254 119	98 932
Accounts receivable	1230	1 200 612	530 357	549 949	149 233
Financial investments (excluding the monetary		400	0	0	0
equivalent)	1240
Cash and monetary equivalents	1250	491 247	214 619	40 997	11 558
Other current assets	1260	118 852	86 991	20 494	0
TOTAL IN SECTION II.	1200	4 341 396	2 333 872	1 359 949	445 889
BALANCE	1600	6 620 198	3 398 842	1 859 306	568 172
2. LIABILITIES
III. CAPITAL AND RESERVES
Authorized capital (share capital, charter capital,		10	10	10	10
deposits capital, partners capital)	1310
Treasury stock	1320	0	0	0	0
Revaluation of fixed assets	1340	0	0	0	0
Additional capital (without revaluation)	1350	-62 054	414	0	0
Reserve capital	1360	0	0	0	0
Retained earnings (uncovered loss)	1370	2 180 776	889 062	-1 667 145	-364 486
TOTAL IN SECTION III.	1300	2 118 732	889 486	-1 667 135	-364 476
IV. LONG-TERM LIABILITIES
Borrowed funds	1410	0	0	2 104 282	273 329
Deferred tax liabilities	1420	0	0	0	118
Provisions	1430	0	0	0	0
Other liabilities	1450	0	9 844	65	0
TOTAL IN SECTION IV.	1400	0	9 844	2 104 347	273 448
V. SHORT-TERM LIABILITIES
Borrowed funds	1510	170 871	0	0	507 531
Payables	1520	4 100 835	2 379 768	1 266 376	151 670
Deferred income	1530	0	0	0	0
Provisions	1540	229 760	119 709	155 718	0
Sonstige Verbindlichkeiten	1550	0	35	0	0
TOTAL IN SECTION V.	1500	4 501 466	2 499 512	1 422 094	659 201
BALANCE	1700	6 620 198	3 398 842	1 859 306	568 172

Profit and loss accounts

31.12.2014 The enclosed profit and loss account of 2014 is originated from official source, no data available about authentication.

31.12.2013 The enclosed profit and loss account of 2013 is originated from official source, no data available about authentication.

31.12.2012 The enclosed profit and loss account of 2012 is originated from official source, no data available about authentication.

31.12.2011 The enclosed profit and loss account of 2011 is originated from official source, no data available about authentication.

		31/12/2014	31/12/2013	31/12/2012	31/12/2011
		1000	1000	1000	1000
Name	Ref.	RUB	RUB	RUB	RUB
		profit and	profit and	profit and	profit and
		loss account	loss account	loss account	loss account
Turnover	2110	9 765 976	5 334 224	1 531 399	341 805
Cost of sales	2120	6 063 132	3 249 782	927 595	218 624
Gross profit (loss)	2100	3 702 844	2 084 442	603 804	123 181
Selling expenses	2210	4 182 427	3 035 387	2 014 885	707 853
Administrative expenses	2220	1 863 597	803 345	0	0
Sales profit (loss)	2200	-2 343 180	-1 754 290	-1 411 081	-584 672
Earnings from other entities	2310	0	0	0	0
Interest receivable	2320	5 445	357	103	34
Interest payable	2330	21 511	42 305	24 918	10 880
Other operating income	2340	5 358 496	4 636 072	37 173	292 853
Other operating expenses	2350	2 135 152	538 311	92 713	167 547
Profit (loss) before tax	2300	864 098	2 301 523	-1 491 436	-470 212
Current profit tax	2410	0	0	0	0
Permanent tax liabilities (assets)	2421	600 379	794 128	-2 483	11 697
Change in deferred tax liabilities	2430	5 951	-44 832	26 852	118
Change in deferred tax assets	2450	433 510	289 158	262 697	105 858
Different	2430	-58	95	7	14
Net profit (loss)	2400	1 291 715	2 635 418	-1 255 598	-364 486
Results of fixed assets revaluation, non-includedin		0	0	0	0
net profit/loss for period	2510
Result of other transactions, non included in net		0	0	0	0
profit/loss for period	2520
Total financial result for period	2500	1 291 715	2 635 418	-1 255 598	-364 486

Financial Ratios

Name	Ref.	31/12/2014	31/12/2013	31/12/2012	31/12/2011
Current ratio	1	0,96	0,93	0,96	0,68
Quick ratio	2	0,56	0,50	0,61	0,39
Average Collection Period	3	32,35	36,96	83,32
Payables turnover Period	4	195,07	204,76	278,99
Debt ratio	5	0,68	0,74	1,90	1,64
Equity to total assets ratio	6	0,32	0,26	-0,90	-0,64
Funding ratio	7	0,47	0,35	-0,47	-0,39
Return on sales	8	13,23	49,41	-81,99	-106,64
Return on Assets	9	25,79	100,24	-103,45
Return on Equity	10	85,88	-677,79	123,61

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.22
UK Pound	1	Rs.99.93
Euro	1	Rs.71.67

INFORMATION DETAILS

Analysis Done by :	KAS
Report Prepared by :	TRU

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.